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Swindon and Salisbury lie rough forty miles apart, so it is quite possible that a Salisbury City fan may have picked up the latest copy of The Swindon Advertiser and read this intriguing report, entitled ‘Town’s CVA finally signed off‘. Quite what their reaction was I hesitate to guess. They must surely have looked to […]

Swindon Town have one of the worst financial records among English league clubs. They last turned a profit in 1996/97, and have been into Administration in February 2000 with debts of £3.5m, and again in March 2002 with debts of £1.8m. Following the second Administration, they did not emerge from a CVA until the end […]

The following list is of the winding-up petitions presented by HM Revenue and Customs (HMRC) and its predecessors, the Internal Revenue (IR) who were responsible for the collection of direct taxation such as income tax (PAYE) and National Insurance contributions, and HM Customs and Excise (C&E) who were responsible for the collection of indirect taxation […]

I’m sometimes asked for a magic number – the number of top clubs which have gone into Administration. It’s difficult give a simple answer because: Administration is a misleading basis for counting. Clubs can be wound up without ever going into Administration. A better measure is ‘insolvency event’, a term which can however be defined […]

It’s increasingly difficult to see any magic in the beautiful game other than black magic, especially when you look at it from a financial perspective. You only need to think of the narrow escapes at Plymouth and Wrexham recently, and both Portsmouth and Darlington are standing on the edge of the precipice. The Cups may […]

Well, obviously he should about the future of Chester City, but I was thinking rather more of the implications of his signing an undertaking banning him from acting as a company director until the year 2020 (1). The specific implication is that “may no longer act as either an active or inactive director, or exercise […]

It is reported that Charlton Athletic are possibly the subject, again, of a takeover bid from the UAE (1) and (2), this in the context of recent annual losses of £11.5m (3), the selling of fixed assets (4), and relegation to League 1. Less than a week ago Plymouth Argyle (Championship) were taken over by […]

I have long argued that the option of going into Administration is a far from easy option, and that further punishment by football’s governing bodies not only constitutes ‘second punishment’ but is dysfunctional in that it punishes the club rather than the directors who caused the financial problems, and adds to the likelihood of further […]

Charlton Athletic have been relegated (1). This further relegation for a club which was in the Premier League as recently as 2007 places then in the company of Barnsley, Bradford City, Leicester, Leeds, Manchester City, Nottingham Forest, Oldham Athletic, Queens Park Rangers, Sheffield Wednesday, Swindon and Wimbledon. Southampton are currently candidates for inclusion on the […]